ISLAMABAD: The Chairman of Bank Alfalah, His Excellency Sheikh Nahayan bin Mubarak Al Nahayan, and the Board of Directors have approved an additional USD 5 million (equivalent to PKR 1.4 billion) to help rebuild communities devastated by the 2025 floods.
This latest commitment brings the bank’s total contribution toward comprehensive flood relief and rehabilitation since the 2022 floods to USD 15 million, underscoring its sustained efforts to support communities affected by catastrophic climate events.
The announcement was made by Atif Bajwa, President and Chief Executive Officer of Bank Alfalah, during a press conference held in Karachi.
“At Bank Alfalah, we aspire to be more than a financial institution; we are a caring bank,” said Atif Bajwa. “We are deeply grateful to our Chairman and Board for this generous pledge. It reflects our shared belief in rebuilding lives and strengthening climate resilience.”
The newly announced funds will be channeled through a network of partner non-governmental organisations to restore infrastructure, rebuild livelihoods, and enhance resilience across Punjab, Khyber Pakhtunkhwa, and Gilgit-Baltistan. The initiative includes a multi-input development program focusing on housing, education, health, and climate-smart agriculture to ensure sustained rehabilitation.
The 2025 floods have compounded the climate challenges Pakistan has faced since 2022, when 33 million people were affected nationwide. Despite extensive aid efforts, more than eight million displaced people continue to struggle with health and housing insecurity.
Following the 2022 disaster, Bank Alfalah launched a USD 10 million response plan implemented in two phases—immediate relief and long-term rehabilitation—across Sindh and Balochistan. The bank has since partnered with over 25 organisations, including Akhuwat Islamic Microfinance, The Citizens Foundation, Karachi Relief Trust, and the Aga Khan Development Network, focusing on rebuilding homes, schools, and essential services while promoting financial inclusion and agricultural recovery.
Beyond community outreach, Bank Alfalah has provided PKR 500 million in direct financial assistance to 479 employees whose homes and assets were lost in the floods, reflecting its internal culture of care and solidarity.
The bank’s new allocation comes amid the 2025 monsoon crisis, which has hit northern Pakistan particularly hard. According to UNICEF, 946 lives have been lost—including 255 children—and more than 1.5 million people have been displaced in Khyber Pakhtunkhwa and Punjab, while flash floods and glacial lake outburst floods continue to devastate Gilgit-Baltistan.
This latest gesture by the Chairman and Board of Bank Alfalah reaffirms the strong bond between the UAE and Pakistan and highlights Bank Alfalah’s enduring commitment to sustainable corporate social responsibility.
